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GrubHub Inc. (GRUB): Steadfast Capital Management Reports 5.1% Stake

According to a new 13G filing with the US Securities and Exchange Commission, Robert Pitts Steadfast Capital Managment has initiated a stake in GrubHub Inc. (NYSE:GRUB). The position contains 4.31 million shares, which account for 5.1% of GrubHub’s outstanding stock.

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GrubHub is a food ordering company, which allows a connection, through their mobile platform and a website, with around, 40,000 takeout restaurants in more than 1,000 cities in the US, offering an easy way to order food from the nearest local restaurant. The company’s shares have dropped by 34.6% over the last 12 months. GrubHub is scheduled to report its financial results for the last quarter on Tuesday and the consensus among analysts includes EPS of $0.20, versus $0.18 reported for the first quarter of 2015, while the revenue estimate of $111.33 million, implies a growth of 26% on the year.

GrubHub Inc (NYSE:GRUB) shares haven’t seen a lot of action during the fourth quarter and the hedge fund sentiment was unchanged among the hedge funds tracked by Insider Monkey. A total of 24 investors reported long position in this stock as of the end of December, with Christian Leone’s Luxor Capital Group holding the biggest position, valued at $120 million. The second biggest position was reported by Ross Turner’s Pelham Capital, worth about $106.6 million. Other money managers that were bullish on this stock are Robert Karr’s Joho Capital, Paul Reeder and Edward Shapiro’s PAR Capital Management and Karthik Sarma’s SRS Investment Management.

Among the funds that unloaded their stakes in the company during the fourth quarter are Josh Resnick’s Jericho Capital Asset Management, which dumped $32.5 million stake, and  Joel Greenblatt’s Gotham Asset Management, which dropped a position worth around $14.6 million.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Robert S. Pitts, Jr 0 4,310,000 0 4,310,000 4,310,000 5.1%
Steadfast Capital Management 0 4,140,786 0 4,140,786 4,140,786 4.9%
Steadfast Advisors 0 169,214 0 169,214 169,214 Less than 1%
Steadfast Capital 0 169,214 0 169,214 169,214 Less than 1%
American Steadfast 0 1,532,642 0 1,532,642 1,532,642 1.8%
Steadfast International Master Fund Ltd 0 2,608,144 0 2,608,144 2,608,144 3.1%

Robert Pitts
Robert Pitts
Steadfast Capital Management

Page 1 of 14 – SEC Filing

(RULE 13D – 102)
(Amendment No. )*
Grubhub Inc.
(Name of Issuer)
Common Stock, $0.0001 par value per share
(Title of Class of Securities)
(CUSIP Number)
April 19, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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